Nathan_Black

AAPL: Could these patterns reverse the trend again?

NASDAQ:AAPL   Apple Inc
Hello traders and investors! Let’s see how AAPL is doing today!

Since last month, when we were discussing the reversal patterns AAPL was doing, our view was clearly bullish . Now that it went from $ 120 to almost $ 140, what’s next for it?

Well, in the 1h chart we have again some nice reversal patterns. Apple is doing higher lows, and if it breaks the blue line at $ 130.44 it’ll trigger a bullish pivot. It has a gap to fill (yellow square), and it’ll probably seek the $ 137 again if it does that.

Let’s see the daily chart:


The problem with the daily chart is the volume. The high volume in the bearish days indicates that the bears are not kidding here. Maybe this was all thanks to earnings , but we can’t be sure.

But it is a fact that it is sitting right above the $ 128 and it is doing a good reaction now. But if AAPL loses the $ 128 again, things might get ugly for it, and it could retest the $ 120 area next.

This is a decisive moment for AAPL , and I’m eager to see how it’ll play. Remember to follow me to keep in touch with my daily updates on stocks and indices, and if you liked this idea, remember to support it!

Thank you very much!

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